Friday, 21 January, 2022
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Amazon moves SC to appeal stay on arbitration against Future-Reliance deal

Amazon is trying to block the sale of Future’s warehouses and stores to Reliance Retail, which would cement Reliance’s dominant position and hurt the US giant's interests.

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New Delhi: Amazon.com Inc.’s Indian unit petitioned the country’s Supreme Court against a halt on an arbitration case against Future Retail Ltd.’s asset sale to Reliance Industries Ltd., according to people familiar with the filing.

Amazon urged the top court to lift the halt ordered on Jan. 5 by a high court and is likely to seek an early hearing of the case, the people said, asking not to be identified discussing the filing.

Amazon is trying to block the sale of Future’s warehouses and stores to Reliance Retail, which would cement Reliance’s dominant position and make it harder for the U.S. giant to entrench itself in the world’s biggest open consumer market. Cases are being heard in courts across Singapore and India.

Representatives for Future Retail and Amazon declined to comment on the filing.

Amazon has also petitioned the National Company Law Appellate Tribunal, challenging the antitrust body’s ruling in December that suspended the nod for its investment in a Future group firm, the people said.-Bloomberg


Also read: Delhi HC halts Amazon-Future arbitration in Singapore over Reliance deal


 

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